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RESEARCH TRIANGLE PARK, N.C., January 12, 2005 - Ping Fu, president and CEO of Geomagic, has been named Entrebizneur of the Year by Business Leader magazine, a monthly publication covering the Raleigh, Durham and Chapel Hill regions of North Carolina.

“Ping Fu represents the quintessential story of someone coming to this country and using brains, ingenuity and vision to overcome adversity and make her company a success,” says Dan Davies, publisher of Business Leader.

Ping Fu came to America from China in 1982 and co-founded Geomagic in 1996. The company’s products enable designers and engineers to capture scan data from physical parts and create highly accurate digital models for applications such as digital dentistry, historic preservation of the Statue of Liberty, redesign of a retro Harley-Davidson gas tank, and quality inspection to ensure that circuit breakers will last 400 years.

Fu was named president and CEO of Geomagic in early 2001. In a time when venture capital was scarce, her leadership helped jump-start product sales and significantly reduce costs. Geomagic became profitable in 2003 and increased revenue by 2,136 percent over the last five years. In FY 2004, Geomagic increased product sales by 49 percent, doubled its total number of employees, and grew internationally by acquiring a European technology company and establishing subsidiaries in Germany and Asia.

“My thanks to Business Leader for this honor,” says Fu. “I dedicate the award to the people who made Geomagic a success: our talented and dedicated employees in North Carolina and around the world.”

About Geomagic

Geomagic (www.geomagic.com) is a global company dedicated to advancing and applying 3D technology for the benefit of humanity. Geomagic’s scanning and design software solutions are used to capture and model 3D content from physical objects, organically sculpt complex shapes, and prepare products for manufacturing. In addition, the company produces powerful 3D metrology and inspection software that verifies dimensional quality by comparing as-built products to master designs. Geomagic’s Sensable Phantom haptic devices simulate the sense of touch in a digital environment.